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Founder Group Limited reports developments as a Malaysia-based end-to-end EPCC solutions provider for solar photovoltaic facilities. The company focuses on large-scale solar projects and commercial and industrial solar installations, including rooftop PV systems for factories, warehouses and commercial properties.
Recurring news for FGL includes EPC and EPCC contract awards tied to Malaysia renewable-energy programs, utility-scale solar project work, testing and commissioning activity, and commercial opportunities in large-scale and C&I solar. Company updates also cover Nasdaq Capital Market compliance matters, share actions and capital-structure developments affecting its Class A ordinary shares.
Founder Group Limited (Nasdaq:FGL) will implement a 100-for-1 share combination, effective for trading on the Nasdaq Capital Market on September 1, 2026, to help regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing.
Each 100 existing ordinary shares will automatically convert into one share, with no shareholder action required. Fractional positions will be rounded up via bonus shares. Immediately before the combination, FGL has 7,369,159 Class A and 186,358 Class B shares outstanding; post-combination these will be approximately 73,693 Class A and 1,865 Class B shares, respectively.
Founder Group (Nasdaq: FGL) announced it has completed the acquisition of a 19.90% equity interest in Nichcom Go, the Malaysian Charge Point Operator behind the SpacePlus EV charging network. According to Founder Group, Nichcom Go develops and manages electric vehicle charging facilities across Malaysia.
The company highlights rapid EV adoption, with Malaysia’s battery EV sales rising 109% year-on-year to 30,850 units in 2025 and the EV charging market estimated at US$143.4 million in 2024, projected to reach US$539.4 million by 2030. As of May 31, 2026, 6,416 chargers are installed nationwide versus a 30,000 public chargers target by 2030 under the National Energy Transition Roadmap. SpacePlus is expanding beyond Selangor into Perak, Melaka and Johor and has an overseas footprint via a partnership in the United States.
Founder Group plans to leverage its solar EPCC and battery energy storage capabilities to help SpacePlus gradually adopt solar-powered charging, which it views as a strategic fit with the charging network’s scale-up plans.
Founder Group (NASDAQ: FGL), via subsidiary Founder Energy Sdn Bhd, has been engaged as subcontractor under Malaysia’s Corporate Green Power Programme for EPCC works on a 29.99MWac large-scale solar photovoltaic facility in Kuala Muda, Kedah. The subcontract is valued at RM6.05 million (about US$1.5 million).
Founder Energy’s scope covers procurement, electrical and mechanical installation, approvals, testing and commissioning up to the grid interconnection point, while major equipment is purchased by the main contractor. Founder Group will integrate its proprietary AI-driven O&M technologies, including predictive maintenance and drone-assisted inspections, and views CGPP plus the new 2,500MW LSS6 framework as expanding its EPCC and O&M tender and order book opportunities within Malaysia’s push toward 70% renewable energy capacity by 2050.
Founder Group (NASDAQ:FGL) announced that subsidiary Founder Energy Sdn Bhd has signed a turn-key EPCC contract to build a 1.78 MW-peak rooftop solar system for a shrimp farming and processing facility in Ayer Hitam, Kedah. The contract is valued at about RM5.58 million (US$1.37 million) and marks the company’s second major aquaculture-focused clean energy project, and its first for an integrated shrimp farm and processing plant. The system is designed for a 25-year operational life. Founder Energy will handle full EPCC works, grid-connection coordination with Tenaga Nasional Berhad and FM Global compliance, while Founder Group plans to support long-term operations with its AI-driven O&M platform featuring automated diagnostics, predictive maintenance and drone inspections.
Founder Group Limited (NASDAQ: FGL), via subsidiary Founder Energy, has signed a turn-key EPCC contract to build a 1.4 MW-peak rooftop solar system for an integrated shrimp farm operating across three sites in Bandar Permaisuri, Terengganu. The contract is valued at about RM4.7 million (US$1.15 million).
This represents Founder Group’s first aquaculture-sector EPCC contract, expanding its customer base into energy‑intensive commercial farming. The scope includes full design, supply, installation and grid connection with Tenaga Nasional, and can be complemented by the company’s AI-driven operations and maintenance platform offering predictive analytics and drone-based inspections.
Founder Group Limited (NASDAQ: FGL) announced it has regained compliance with Nasdaq's minimum publicly held shares requirement under Listing Rule 5550(a)(4). The company said it received a confirmation letter from Nasdaq's Listing Qualifications Department on April 9, 2026, restoring its compliance status.
This confirmation addresses the previously cited deficiency and maintains FGL's continued listing on Nasdaq.
Founder Group (NASDAQ: FGL) secured an additional EPC contract worth RM34 million (~US$8.6 million) under Malaysia’s Large Scale Solar 5 (LSS5) programme for a 9.5 MW solar facility. The project is scheduled to reach commercial operation no later than May 1, 2027.
Founder Group’s total LSS5 contract value now stands at about RM70 million (~US$17.7 million). Management said it intends to pursue further awards under potential LSS6, CRESS and regional solar opportunities to build recurring revenue.
Founder Group (NASDAQ: FGL) secured a RM19.5 million (≈US$5 million) EPC contract to build a 5.5MW solar plant under Malaysia’s LSS5 PETRA programme. The scope covers design, construction, testing and commissioning, with a guaranteed MAAQ of 13,568.8 MWh for the first two years and commercial operation targeted for May 1, 2027.
The win takes place amid a 2,000 MW LSS5 tender and follows 121 approved LSS projects (6,228 MW), reinforcing Founder Group’s EPCC position in Malaysia’s expanding renewables market.
Founder Group (NASDAQ: FGL) secured an approximately RM16 million (US$4.14 million) EPCC contract to build a 25.40MW utility‑scale solar project under Malaysia’s Corporate Green Power Programme (CGPP) announced on March 9, 2026. The project is expected to generate ~53,000 MWh annually, offset ~35,000 tonnes CO2, and supply ~53,000 RECs, while expanding the company’s EPCC order book and visibility into multi‑year recurring revenue opportunities.
Founder Group Limited (NASDAQ: FGL) announced it has regained compliance with Nasdaq Listing Rule 5550(a)(2). On February 25, 2026, Nasdaq confirmed the company’s closing bid price met the US$1.00 minimum, restoring compliance with the exchange’s minimum bid price requirement.